Britain, Switzerland agree on post-Brexit trade

  • Britain, Switzerland agree on post-Brexit trade

Britain, Switzerland agree on post-Brexit trade

The Department for International Trade said the agreement would maintain UK-Swiss trade under the preferential terms now available to both countries through an European Union free trade deal.

The "continuity agreement" - based on the EU's existing free trade deal with Switzerland - was agreed in December but ratified on Monday.

If London and Brussels manage to reach a deal for an orderly Brexit, the bilateral agreements between Switzerland and the European Union will continue to apply to Britain until the end of the transition period, the statement said.

The sectoral areas of bilateral trade between the two countries are technology, finance and renewable energy for which green finance was available, he said.

The government says that "trading on these preferential terms", as opposed to sticking to the terms of the World Trade Organisation, "will deliver significant savings and help to safeguard British jobs".

In early November 2018, former British PM Tony Blair called for a second referendum on Brexit, urging the country's parliament to turn down any divorce agreement between London and Brussels and let United Kingdom citizens decide as each option would have negative consequences.

Brexit backers in May's party think the so-called "backstop" arrangement in the current deal would keep Britain indefinitely tied to European Union rules.

Question marks linger over the departure date as Theresa May still struggles to strike a negotiated deal that can win the backing of parliament.

The EU has 40 agreements, covering trade with 71 different countries, that would need to be rolled over.

The private event was one of a number of sessions the Government is holding with businesses to assess their readiness for a no deal Brexit and to hear concerns.

"To pretend that you could do so is a risky delusion", Fox said.

The director general of the Confederation of British Industry (CBI), Carolyn Fairbairn, said the lack of other trade deals being signed was an "emergency" - particularly in the case of South Korea and Japan.

Dr Fox arrived in Zurich last night on a flight from Dubai. He had been attending an global trade conference in the United Arab Emirates, where he encouraged British businesses to "look beyond Europe". Last month, Dr Fox was accused of having "extremely low credibility" by the chief executive of Unipart, John Neill.